The Shipbreakers of Alang utilize much labor and little capital, thereby supporting the applicability of the
A) factor proportions explanation of the sources of comparative advantage.
B) specific factor theory of comparative advantage.
C) monopolistic competition theory of comparative advantage.
D) scale economies theory of comparative advantage.
E) basis of the non-dumping legislation.
A
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Where the IS and LM curves intersect:
a. actual expenditure is equal to planned expenditure. b. output equals aggregate demand. c. savings plus taxes equals investment plus government spending. d. all of the above.
Both Keynesians and real business cycle proponents believe that tax cuts increase output
a. and both agree it does this through increasing aggregate demand. b. but Keynesians believe it does this through increasing aggregate demand and not aggregate supply. c. but Keynesians believe it does this through increasing aggregate supply and not aggregate demand. d. and both agree it does this through increasing aggregate supply.